Staircase Equipment Company uses a job order cost system. The following data summarize the operations related to production for April 2014, the first month of operations:

Materials purchased on account, $1,830.

Materials requisitioned and factory labor used:

Job	Materials		Factory Labor
No. 301	$2,230		$2,400
No. 302	2720		3240
No. 303	1810		1,580
No. 304	6110		5950
No. 305	3880		4540
No. 306	2830		2,880
For general factory use	760		3550

Factory overhead costs incurred on account, $4260.

Depreciation of machinery and equipment, $1,700.

The factory overhead rate is $60 per machine hour. Machine hours used:

Job	Machine Hours
No. 301	27
No. 302	37
No. 303	29
No. 304	72
No. 305	15
No. 306	29
Total	209

Jobs completed: 301, 302, 303, and 305.

Jobs were shipped and customers were billed as follows: Job 301, $7,500; Job 302, $9,820; Job 303, $14,880.

1. Journalize the entries to record the summarized operations. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".

Entries	Description	Debit	Credit
a. Materials		1830
Accounts Payable			1830
b. Work in Process
Factory Overhead
Materials
Wages Payable
c. Factory Overhead		4260
Accounts Payable			4260
d. Factory Overhead		1700
Accumulated Depreciation-Machinery&Equipment			1700
e. Work in Process
Factory Overhead
f. Finished Goods
Work in Process
g. Accounts Receivable
Sales
Cost of Goods Sold
Finished Goods

2. Post the appropriate entries to T accounts for Work in Process and Finished Goods, using the identifying letters as transaction codes. Insert memo account balances as of the end of the month.

Work in Process
B		F
E
Balance

Finished Goods
F		G
Balance

3. Prepare a schedule of unfinished jobs to support the balance in the work in process account.

Staircase Equipment Company Schedule of Unfinished Jobs
Job	Direct Materials	Direct Labor	Factory Overhead	Total
304	$6110	$5950	$	$
306	2830	2880
Balance of Work in Process, April 30				$

4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account.

Staircase Equipment Company Schedule of Completed Jobs
Job	Direct Materials	Direct Labor	Factory Overhead	Total
305	$	$	$	$